Ok, so I'm 24 with a wife that doesn't work, and we have two kids

Ok, so I'm 24 with a wife that doesn't work, and we have two kids. I make about $80k a year between my day job and VA income. I managed to scrape together around $6000 for investing. What are your opinions? Should i figure out day trading or let some white collar dude who went to school for finance do my trading through a mutual fund?

Here's my advice to you read these books. Most of the people here will not be able to give you the facts and outstanding reasoning you will find in this line up of books.

16 months ago

RavySnake

@SnarelureThank you, I really appreciate your input. Being a father of two and working my ass of doesn't leave me much wiggle room to figure out how to plan for the future, whether it's a week from now or decades from now. Some material to read may set me in the right direction!

16 months ago

BinaryMan

@Methnerd@RavySnake Dude, weird that you come here. Unless you're an active investor who understands fundamental and technical analysis well, you should let someone manage your money for now. Until you understand better you don't want to lose your hard earned money. I'm 21 and in my last year of a finance degree, if you have no prior knowledge of investments the learning curve can be steep. For now I recommend mutual funds such as the ones vanguard or Edward Jones provide.

@whereismynamethis is the best optionbest option in all of the investing worlddont fuck with day tradingbuy the lowest fee funds (vanguard) and just keep pumping money into it

an alternative is subscribing to Motley Fool for stock tips or Morningstar and picking their 5-star, wide moat stocks. Large cap shit.I bought Magellan Midstream Partners and Walmart based on Morningstar 5-star wide moat recommendations and I'm killing (in those two stocks only, the other shit I picked myself sucks ass)

@takes2longA good portion of this I already do, I save 20% of all my income (when possible, 10% at minimum always) I've maxed my 401k for what my company will match, etc. However there are some interesting things in there, I need to get my credit cards down a little more.

16 months ago

Fuzzy_Logic

@TreeEaterFor her not having a college education, sending sending her back to work would be pointless. She would make minimum wage and it would all go back into child care.

16 months ago

New_Cliche

@Methnerddont buy oil. they just put out all the fires in canada and canadas production had gone down because of the fires . reduced by 25% but by now is going back to normal levels

so inventory held by companies will grow and usage wont expect a flat $40 - $35 a barrel soon

16 months ago

Stark_Naked

@New_ClicheOil gas been up and down for years now. It use to seem like a sound investment but I've gotten further away from that. At this point I'm pretty much between mutual funds or figuring out the bitcoin craze right now.

Put 3/4 of your savings in a vanguard fund and the rest in BTC, cash out at the halvening, and buy up the dip.

16 months ago

RumChicken

@MethnerdQuestion:What is the difference between getting an index tracker ETF from Vanguard or somewhere or 'trading in indices' directly. Now, I don't think I'm putting it the right way but when I say trading in indices directly I mean when I log into etoro, there is a section on indices, then I can choose for example the S&P 500 and buy x number of shares. What is the difference between this and getting an index tracker account that tracks the S&P 500 with Vanguard or any other company?

16 months ago

farquit

The SAHM thing is the biggest scam in the world. Sadly many young guys still fall for it.

Kids are potentially the best investment you can make desu senpai, noones gonna care for a rich old fuck without a family

16 months ago

King_Martha

@Methnerdi'd say pay a buddy to seduce your wife, video tape himself having sex with her and go through divorce, you'd be making much more money.extra: would give you full custody of the kids if she somehow gets hooked on meth or H.

16 months ago

w8t4u

@CouchChiller what are gold diggers you promise to marry and never do for 1000 alex